Gold nursed losses on Wednesday, holding below a 15-month
high as the dollar firmed after two Federal Reserve officials talked up US
interest rate hikes this year.
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Spot gold was little changed at USD 1,285.19 an ounce by
0033 GMT, after dropping 0.4 percent in the previous session.
Gold prices have gained 21 percent since the start of the year on the outlook that the Fed has slowed its expected pace of rate increases.
Bullion is
sensitive to rising interest rates, which lift the opportunity cost of holding
non-yielding bullion.
Bullion is sensitive to rising interest rates, which lift the opportunity cost of holding non-yielding bullion, while boosting the dollar, in which it is priced.
PRICES AT 0029 GMT
Metal Last Change
Pct chg
Spot gold 1292.9 -0.46
-0.04
Spot silver 17.78 -0.04
-0.22
Spot platinum 1071.99
-2.51 -0.23
Spot palladium 622.47
-2.03 -0.33
Comex gold 1295.4 4.9
0.38
Comex silver 17.845 0.026
0.15
COMEX gold and
silver contracts show the most active months.
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